Why The Ego Is Left At The Door
I might have an opinion about the longer-term prospects of a company, but if the setup with edge is ‘present’ in the
here and now…it’s a gift that I’m more than willing to accept.
Yesterday, interestingly (or funnily) enough, I poked fun at Netflix. In our TM chat room I
stated that I thought that they had the makings of another Webvan…hmmm,
remember that one?
….but what the ‘hay’, I don’t mind ‘moooving’
into a stock that’s exhibiting ‘all the ingredients’ intraday, that Webvan
failed to deliver on in the long run.
11:53:18
Intraday
Setup Alert
Netflix (NFLX)
has broken above angular daily resistance in today’s trade. From July 14,
the stock has notched a daily chart descending triangle.
NFLX was mentioned in IBD today, accounting for a good part of the early
enthusiasm. With a high level intraday Slim
Jim taking shape, this might mean that investor’s appetites have yet to be
filled. Triggers above pattern resistance are set at 26.87 (recent pivot +.05)
with the stock trading up .89 at 26.73.
We ain’t doing no Peter Lynch ‘investing’ here.
All that we really care about is picking up some ‘flicks’ to enjoy for the day,
while leaving the merits of such a purchase, to our thoughts at night.